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GasBuddy News Article

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Industry economist: Oil, gas production key to recovery

Santa Maria Times -- If oil producers had unfettered access to North American fields, the country could be self-sufficient within a dozen years, a top industry economist said Friday.

John Felmy, chief economist for the American Petroleum Institute, said there is enough untapped oil and gas in North America, including off the Pacific Coast, to allow the United States to wean itself from imported crude.

“The world is full of oil and natural gas. We just have to have the desire to get it,” Felmy told a group of around 200 business people at the North County Economic Summit, which was presented by the UCSB Economic Forecast Project.

Felmy blamed over-taxation, limited access to federal lands, and stifling regulation for slowing industry production and with it the economic recovery.


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Submitted May 06, 2012 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Industry economist: Oil, gas production key to recovery Post a Reply Back to Topics
REPLIES (newest first)
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ChuckGVT
Champion Author Vermont

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Message Posted: May 6, 2012 3:46:10 PM

By far the best article here today. Of course, all you damn greenies won't like it.
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BIGREDNM
Champion Author Albuquerque

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Message Posted: May 6, 2012 3:43:31 PM

The true key to recovery is to get rid of the ones who are creating the problem in the first place, and the the ones lurking in the shadows,and want to turn us into slaves,and rule the whole world, and use our government as a tool for their own evil, and Obama, and all the ones in office are their puppets, and it will be the same with anyone we vote for, because we have been sold out, and are in deep trouble, and if you don't beleive that just wait and see.
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ItisAJeepThing
Champion Author Tucson

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Message Posted: May 6, 2012 3:39:17 PM

Oil Industry B.S.

We are pumping more oil than anytime in the last eight years. We are pumping more natural gas than at anytime in American history. They just want to pump more and export more. Obama is NOT stopping oil or natural gas production. Greed and speculation are keeping oil and fuel prices inflated, not lack of North American production.
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OilBGone
Champion Author New Jersey

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Message Posted: May 6, 2012 3:38:35 PM

That is an absolutely brilliant analysis, Peach (NOT).
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ktbaeohana
Champion Author Las Vegas

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Message Posted: May 6, 2012 3:36:56 PM

TELL THE GOVERNMENT GET GOING.
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pricechecker08
Champion Author Ohio

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Message Posted: May 6, 2012 3:36:42 PM

ok
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marlita
Champion Author Dayton

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Message Posted: May 6, 2012 3:34:38 PM

ok
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GoLancer4
Champion Author Ohio

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Message Posted: May 6, 2012 3:33:37 PM

hmm
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DebbiePeach
All-Star Author Dallas

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Message Posted: May 6, 2012 3:32:57 PM

How many times do people have to be told. This administration DOES NOT WANT anybody top have any recovery no matter what. They are more intent on destroying this country and making you dependant on them.
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arcaneradio
Champion Author Michigan

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Message Posted: May 6, 2012 3:32:33 PM

duh
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dale243
All-Star Author Dallas

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Message Posted: May 6, 2012 3:27:19 PM

Gas prices need to go down and the rest of the economy will benefit.
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Z51Corvette
Champion Author Austin

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Message Posted: May 6, 2012 3:22:05 PM

It remains to be seen, when this will take place. We need to do what we can and to continue to conserve during the process.
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mikaye
Champion Author Cleveland

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Message Posted: May 6, 2012 3:19:48 PM

that is if the oil producers sell to us and these companies pass savings to customers
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indrix
All-Star Author Toronto

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Message Posted: May 6, 2012 3:18:09 PM

I don't believe this, I don't get this.
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SammyAdams
Champion Author Tallahassee

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Message Posted: May 6, 2012 3:15:00 PM

From the article: "Felmy blamed over-taxation, limited access to federal lands, and stifling regulation for slowing industry production and with it the economic recovery."

===================================================================

He might have added the over spending by the government and the running of the printing presses by the FED as major factors preventing any economic recovery.
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humblepie
Champion Author Toledo

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Message Posted: May 6, 2012 3:12:42 PM

i wonder if this guy learned all of this from obama
after obama taught the drilling class
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bbreff
Champion Author Atlanta

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Message Posted: May 6, 2012 3:09:30 PM



If OBUMA and his cronies would allow drilling on federal lands, we would not be in the shape we are today.

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cssco
Champion Author Virginia

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Message Posted: May 6, 2012 3:09:00 PM

Unfettered seems to be a poor choice of words when used to described what an oil producer is allowed to do. Akin to saying it makes no difference how hungry the fox is while guarding the hen house.
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livedream
Champion Author Michigan

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Message Posted: May 6, 2012 3:06:52 PM

Oil industry B.S.!!!
We know prices are no longer based solely on supply & demand -- We're not stupid!!
Stop the speculation to bring prices back to reasonable levels at home!

TopGunn has a good point -- "Would already be there except for political interference."

[Edited by: livedream at 5/6/2012 4:09:44 PM EST]
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mh44s
Champion Author Madison

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Message Posted: May 6, 2012 3:03:05 PM

The price we pay at the pump governs how badly the oil companies want to find oil.
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fuelsaverMN
Champion Author Twin Cities

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Message Posted: May 6, 2012 3:03:02 PM

We need to stop importing oil to the far east,china, and other countries in that region."NOBAMA AND HIS CRONIES HAVE TO GO IN 2012.
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fuelsaverMN
Champion Author Twin Cities

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Message Posted: May 6, 2012 3:01:48 PM

I blame it all on nobama and his policies have hurt our economy and our people who depend on fuel for their cars.
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jwduke1
Champion Author Iowa

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Message Posted: May 6, 2012 2:59:31 PM

Tell the O'Bummer administration this....
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boldrph
Champion Author Topeka

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Message Posted: May 6, 2012 2:58:03 PM

if it was up to big oil, we would be standing in oil and breathing the fumes while we and the earth around us die
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marinedad1949
Champion Author Lancaster

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Message Posted: May 6, 2012 2:55:46 PM

It's worse then having idiots running D. C. We have crooks running the government!
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BobbyVA
Champion Author Virginia Beach

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Message Posted: May 6, 2012 2:08:42 PM

Tell it to the Obama Administration, they think less production is better. Good grief we have idiots running Washington.
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RockCity
Champion Author Denver

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Message Posted: May 6, 2012 2:06:10 PM

I blame the sluggish recovery on big o, certainly not the american petroleum institute. If we drill on all our land and become self sufficient then big oil can export more crude and make more than 368 million bucks a day profit as they do now, perhaps.
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CheapDiesel
All-Star Author Indianapolis

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Message Posted: May 6, 2012 2:03:45 PM

It doesn't matter how overwhelming the amount of natural resources we have, as long as we have a POTUS that bows to the tree huggers and wants to punish us for all our years of "excess".
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Mariuxus
Champion Author Chicago

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Message Posted: May 6, 2012 2:02:39 PM

OK...Speculators...and so on...
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caddilac
Champion Author Ontario

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Message Posted: May 6, 2012 1:58:51 PM


"If oil producers had unfettered access to North American fields, the country could be self-sufficient within a dozen years, a top industry economist said Friday."

And if they did have "unfettered access to North American fields" would they drop gasoline prices?????

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FBI2991
Champion Author Michigan

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Message Posted: May 6, 2012 1:54:23 PM

Whatever
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ScottTee
Champion Author Detroit

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Message Posted: May 6, 2012 1:52:07 PM

production of oil & natural gas is increasing which should help in the medium term
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ratones1
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Message Posted: May 6, 2012 1:51:57 PM

of course...
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BlueVanGroup
Champion Author Colorado

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Message Posted: May 6, 2012 1:51:52 PM


This administration wants to tax oil and gas companies that are profitable and creating jobs to throw more money at "green energy" companies that keep going belly-up.

Punish success and reward failure. That's the way to recovery?
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marsbars
Champion Author Alaska

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Message Posted: May 6, 2012 1:51:48 PM

I believe it!
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spotterjoe
Rookie Author Nevada

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Message Posted: May 6, 2012 1:51:15 PM

No Ford products on list!
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bluetatanka
Champion Author Philadelphia

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Message Posted: May 6, 2012 1:50:06 PM

Interesting article.
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Blackice
Champion Author Twin Cities

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Message Posted: May 6, 2012 1:49:24 PM

snappytom2 wrote:
As soon as Romney becomes president we can start building bread lines and soup kitchens. We already energy independent, we just keep exporting finished refined oil products to keep the price high.
-------------------------------------------------
You are already blaming Romney? Typical Liberal, blaming someone else for their problems.
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dacofa
Champion Author Nevada

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Message Posted: May 6, 2012 1:47:50 PM

Another rocket scientist that missed the last NASA hiring.
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jimbo1867
Champion Author Arizona

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Message Posted: May 6, 2012 1:47:09 PM

uhuh uhuh uhuh
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CarSalesmanPA
Champion Author Reading

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Message Posted: May 6, 2012 1:46:03 PM

OK, cool, let's lower the price of gas.................Oh, I guess it's not quite that simple.
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spotterjoe
Rookie Author Nevada

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Message Posted: May 6, 2012 1:45:36 PM

No the problem is that distillants are our #1 export. Its all going to China
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PittSlovak
Champion Author Pittsburgh

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Message Posted: May 6, 2012 1:44:31 PM

Interesting article.
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craigsf38
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Message Posted: May 6, 2012 1:43:39 PM

Interesting
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Blackice
Champion Author Twin Cities

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Message Posted: May 6, 2012 1:42:57 PM

How can we become self-sufficient when it comes to oil. Since oil is sold on the world market, if we add more oil to the market, OPEC will just decrease their output. And by doing that, it will keep the price of oil high.
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letterchunker
Champion Author Texas

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Message Posted: May 6, 2012 1:42:48 PM


John Felmy, chief economist for the American Petroleum Institute, said much of the land where the oil lies is under federal control and off limits to the industry. He said political policy needs to change to allow the industry to contribute to the country’s economic recovery.

Is there any chance that Obama would change any of his green policies to allow an economic recovery? I really don't think so.
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rnlunder
Champion Author Waco

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Message Posted: May 6, 2012 1:39:31 PM

This is not a new theory...It has been said for years that the US has enough untapped oil to last 100 years without importing a drop of oil from anybody...we just need to get approval to access it.

If we can get access that oil, that will give us up to 100 years to develop alternative energies like, natural gas, hydrogen fuel cells, better batteries for electric cars, Solar power, wind power, nuclear power, compress air engines, and the list goes on an on. I doubt that it will take anywhere near 100 years, but Obama thinks we can change over night and is pushing the country into economic collaps and bankruptcy thinking he can change everthing before the elections.
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TBRR
Champion Author Jacksonville

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Message Posted: May 6, 2012 1:39:28 PM

interesting that the article is not covered in the national news??
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mikesr100
Champion Author Sacramento

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Message Posted: May 6, 2012 1:37:52 PM

Need more refineries! Better for the environment.? Batteries for Passenger Jets and Buses; Send all the tree huggers to the moon and that would be great for the environment!
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garman87
Champion Author Austin

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Message Posted: May 6, 2012 1:37:31 PM

I blame it on stifling regulation and not enough refineries.
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72_Monte
Champion Author Twin Cities

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Message Posted: May 6, 2012 1:36:52 PM


When everything is going to the world market, how is this going to help the recovery on a local basis?? Not too many states have these resources.
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Mermaan
Champion Author Boston

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Message Posted: May 6, 2012 1:36:47 PM

Yep.
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